Salmon boost for Marel’s earnings

Marel, the international fish and meat process equipment group, has reported a strong order book during the second quarter of this year, thanks in part to record demand in the salmon sector.

The current order book now stands at €499.1m, up from €439m a year ago, while the profit was €23.3m against €30.7m in Q2 2020.

But the profit for the January to June half year period  was marginally higher at  €44.5m, with orders up by well over €100m to 740.7m.

The company said: “There was a record in orders and a strong order book where orders in the chicken industry were strong, in the meat industry in line with expectations and in record highs in the fish industry.

“We are seeing record orders coming into the fishing industry where sushi and other salmon products were clearly on the menu.”

CEO Árni Oddur Þórðarson added: “The second quarter was good for Marel. Our ambitious team tackled challenges with optimism and perseverance in close collaboration with suppliers and customers.

“For the second quarter in a row, we are delivering a record order of 370 million euros. It is gratifying to see strong orders coming in to serve the poultry industry, the meat industry was in line with expectations and we are seeing record orders coming into the fishing industry where sushi and other salmon products were clearly on the menu.

“A strong and well-composed order book is the basis of our goals for increased revenue with improved margins looking ahead. Pipeline sales projects, which are not yet confirmed in the order book, continue to grow in all industries.”

Earlier this month Marel announced plans to buy Valka ehf, a salmon and white fish processing equipment business also based in Iceland.